If you want to know why it is all Vanderleun’s fault click here.

A tale of betrayal best read while not eating anything.

All Along The Watchtower by Bob Dylan is this week’s poem of the week.

The fairness of this rant might be doubted. But it is worth noting that males do tend to mature at latter age then females. That does have some consequences worth exploring.

The Last Samurai and Europe’s First Suicide does what all good historical essays should do. It draws connections between different historical events that you would not have thought connected otherwise. But the essay would have been better off if the author had been content to make the comparison and contrast between General Maresuke Nogi and the European generals of World War I. Unfortunately, the author felt compelled to go off on rant at the end of the essay that does not fit with the rest of what he wrote.

I believe in taking responsibility for my actions. No denials, no excuses!! So here’s what I was thinking when I made the infamous cherry dress.
I’m sure you were all hoping for something much more scandalous, but no. In my own quest to better my design skills, I have attempted to read all sorts of Click Here to continue reading.

From AFP…

At least 30 people were killed or reported missing and about 180,000 homes destroyed in a powerful earthquake in southwest China, state media said Sunday.

More than 360 people were injured in Saturday’s 6.1-magnitude earthquake, which rocked Sichuan and Yunnan provinces, the official Xinhua news agency reported, citing the civil affairs ministry.

Granted this is not as big as last time. And 180,000 homes destroyed is not much in a country with over a billion people in it. But a couple of more earthquakes and and China’s construction industry is going to have a hard time keeping up with the rebuilding and the demands of China’s growing economy.

From Businesses Week (h/t Calculated Risk)….

A decision not to make the interest payment would place the county in default and put it one step closer to filing bankruptcy over a $3.2 billion bill linked to years of court-ordered sewer improvements and risky credit arrangements.

Such a move would nearly double the previous record for a municipal bankruptcy, set in 1994 when Orange County, Calif., sought protection over $1.64 billion in debts.

And why did Jefferson County take on such a large debt?

Jefferson County got into trouble after it was forced by the courts to undertake a huge upgrade of its sewage system to meet federal water standards and stop raw and partially treated waste from being dumped into streams.

Acting at the suggestion of outside advisers, the county borrowed money for the project on the bond market in a complex and risky series of transactions. When the mortgage crisis hit and banks began tightening up on their lending, the interest rates on the debt ballooned.

The nearly completed sewer project has been under construction since 1996.

It looks like New Orleans may get hit by a major hurricane again. On the plus side, the majority of the oil rigs may be missed. Oil Drum has constant up dates.

Edit: More from Calculated Risk…..

We’re already seeing gas prices get hit. Shell Oil said it will pull all workers off platforms, along with nearly every other producer. More importantly, the Louisiana Offshore Oil Port will halt taking crude this weekend; it’s the only deepwater oil port in the nation.

Nuts.